In our earlier weblog put up, we mentioned the best way to purchase Bitcoin with a market order on the present market worth. Immediately, we’ll take a more in-depth look into one other, extra superior buying and selling various at SpectroCoin Professional – restrict orders.
Opposite to market orders, this feature permits customers to decide on the popular worth for getting or promoting cryptocurrency. Learn on to search out out what restrict orders are and the best way to purchase Bitcoin with this order sort at SpectroCoin Professional.
What’s a restrict order?
A restrict order is a sort of order that’s executed at a specified worth or greater. On this means, merchants acquire management over the costs they commerce as a substitute of shopping for or promoting currencies on the present market worth.
Whereas the worth is ensured, the order execution will not be. In case the forex doesn’t attain the designated worth, the commerce won’t occur.
Merchants who place restrict orders are referred to as market makers. Every time they place the order, it’s included within the order guide. In different phrases, market makers add quantity to the order guide, and restrict orders assist to “make the market”.
SpectroCoin Professional entitles market makers to as much as a 0.1% maker rebate. Discover out extra details about market maker rebates in our weblog put up.
Learn how to purchase Bitcoin with a restrict order at SpectroCoin Professional?
Step 1. Log in to your account. With a single account, you may entry all SpectroCoin companies, crypto-backed loans and buying and selling platforms included. You’ll be able to entry SpectroCoin Professional via the menu part at SpectroCoin, or log in to the web site straight.
Step 2. Deposit forex. Enter the “Wallets” part within the left aspect view of your account. Press “Deposit” subsequent to the forex that you just want to promote for Bitcoin.
Then, copy the deposit tackle and use it to withdraw belongings from an exterior pockets to SpectroCoin Professional. If you happen to want to switch belongings out of your SpectroCin pockets, press “My SpectroCoin pockets”, insert the quantity you want to obtain, and click on “Deposit”. Inner transfers are immediate.
Step 3. Place a restrict order. When you make the deposit, enter the “Buying and selling” part within the left aspect view of your account. Select the market by which you wish to commerce your belongings. As an illustration, for those who want to purchase Bitcoin with Ethereum, press on “BTC” and choose the “ETH/BTC” pair.
Lastly, scroll down to search out the order part. Press “Restrict order”, insert the quantity that you just want to promote for Bitcoin and the popular worth of Bitcoin. Click on “Promote ETH” to position the order. Your order can be included within the order guide and executed if Bitcoin reaches the worth you laid out in your order particulars.
That’s it! You may have efficiently positioned a restrict order to purchase Bitcoin at SpectroCoin Professional.
You can even watch the video tutorial on the best way to purchase Bitcoin with a restrict order on our YouTube channel.
In case you have any extra questions concerning restrict orders at SpectroCoin Professional, don’t hesitate to get in contact with our buyer help via the LiveChat bubble obtainable on our web site or drop an e-mail at [email protected]